By not speaking more about how to address the nation's housing problems at a recent debate, presidential hopefuls let a great opportunity slip away, according to the chairman of the National Association of Home Builders.
"There can be no economic recovery without a housing recovery, yet the silence on housing was deafening during the debate," said Nielsen. "It is particularly ironic that with the debate setting in Las Vegas, the epicenter of the foreclosure crisis, the candidates chose to duck this topic and other critical housing issues."
He went on to note that the present administration needs to put a great focus on homeownership as well, as its current state is affecting job growth and consumer confidence.
According to the NAHB, the decline of the housing market has adversely affected residential construction workers, as approximately 1.4 million of them have been idled since April 2006. Complicating matters are tight credit conditions for both buyers and homebuilders, disallowing them from obtaining affordable home and construction loans.
If consumers keep track of their credit history, they may be able to spot inaccuracies on their reports that are unfairly lowering their scores. The revised FICO score may then help make consumers more creditworthy in the eyes of lenders.